"You must have heard a lot of rumors these days that someone was going to sideline your team at the 1932 (Republican) convention" Ramon said bluntly If you follow our plan these rumors will disappear overnight Finally Ramon handed over a carrot and if it worked all the credit would go to the president The president thought about it for a month and finally had to bow In July 1932 Ramon again sent someone to the White House to tell the president that Germany should reconsider the issue of war reparations This time Hoover could not bear it any more He was full of resentment and frustration He shouted "Ramon has got the whole thing wrong" If there is one thing that the American people hate and oppose it is that this conspiracy (the forgiveness or postponement of German British and French debts to the United States) offends their interests Ramon did not understand the anger (against bankers) that was sweeping the country They (bankers) want us (politicians) to be complicit in the gang Perhaps they (the bankers) had reached an agreement with the Germans on reparations but in the worst possible way As a result Hoover rejected Wall Street's demands and France defaulted on its payments What made Wall Street bankers even more furious was the series of financial scandals caused by President Hoover's fierce pursuit of short-selling in the stock market coupled with unprecedented unemployment depressed economy and people who were robbed by the stock market all kinds of forces gathered into a strong anger against Wall Street bankers President Hoover Trade Show Services believed that public opinion could be used so he broke face with bankers and wanted to make the problem bigger Hoover denounced the New York stock market as a big casino run by bankers and short-selling speculators hindered the recovery of market confidence He warned Whitney president of the New York Stock Exchange that if he did not restrict short-selling in the stock market he would launch a congressional investigation and regulate the stock market Wall Street's answer to the president's request was simple and crisp "Ridiculous!" President Hoover then ordered the Senate Banking and Currency Committee to begin an investigation into short selling in the stock market The exasperated Wall Street immediately sent Ramon to the White House to have lunch with the president and the secretary of state in order to interrupt the investigation but the president was not moved When the investigation expanded to the dark curtain of stock trading in the late 1920s major cases were shaken out one after another and many stock market scandals such as Goldman Sachs Group and Morgan were exposed to the world When the logical relationship between the stock market crash and the Great Depression was clearly shown to the public the people's anger finally focused on the bankers President Hoover and his career were ruined by the anger of both the bankers and the people It was replaced by what has been called the greatest American president of the 20th century Franklin Delano Roosevelt 3 Who's Franklin Delano Roosevelt "As you and I both know the real story is the huge core of financial power from Andrew China Manufacturers " Jackson has been in control of the government since the beginning of his presidency The country is about to repeat the Jackson-era struggle with the banks only on a larger and broader basis Roosevelt 21 November 1933 Roosevelt's "true confession" is somewhat like Wilson's in those days If Wilson is really a scholar and does not know the way of bankers then it is somewhat artificial to say such a lofty statement based on Roosevelt's experience As a breakthrough in the attack on the incumbent president's ambiguous relationship with Wall Street it has always been a magic weapon for the challenging side in the presidential election over the years In his campaign speech in Ohio on August 20 1932 Roosevelt said "We find that two-thirds of American industry is concentrated in the hands of a few hundred companies which are actually controlled by no more than five people" We find that the securities dealers of about 30 banks and commercial banks determine the flow of capital in the United States In other words we find a highly concentrated economic power in the hands of a few people which is the opposite of what the President (Hoover) called individualism ” Roosevelt tried to make himself feel as much like President Jackson who was loved by the American people and was irreconcilable with the bankers a brave president who was willing to challenge the financial crocodiles for the little people Unfortunately Toys Hobbies Roosevelt's experience showed that he had more ties with international bankers than President Hoover Roosevelt's great-grandfather James Roosevelt founded the bank of New York in 1784 one of the oldest banking families in the country and it was the bank that was accused of manipulating the price of treasury bonds in the treasury bond auction market in 2006 The bank's business was run by his cousin George until Roosevelt ran for president Roosevelt's father also known as James was a tycoon in American industry graduated from Harvard Law School owned coal mines railways and other huge industries and was the founder of the southern railway security company The company is one of the first securities holding companies in the United States to merge the railway industry Roosevelt himself was a Harvard-educated lawyer whose main clients included Morgan With the support of a strong banking background Roosevelt who was only 34 years old became Assistant Secretary of the Navy of the United States in 1916 It was Morgan's senior partner who often beat President Hoover's Ramon to arrange a new home for Roosevelt in Washington Roosevelt also had an uncle Leonardo who was president Roosevelt 。 Their other cousin George Emlen Roosevelt was also a prominent figure on Wall Street He reorganized at least 14 railroads in the era of railroad mergers and served as a director of Morgan's "Guarantee Trust and Investment Corporation" (guaranty trust company) Hanhua Bank (chemical bank) and New York Savings Bank A booklet may be printed of the names of the directors of other companies of which he is a member Roosevelt's mother the Delano family was also a hairpin family with nine presidents related to their family No president in recent US history had more powerful political and banking resources than Roosevelt trade-global.com